Dictionary of Procurement Terms

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Search Results: 101-110 of 118 results for “M”

  • Monopoly

    1. A market situation where there is one seller and many buyers of a product or service that has no close substitution and where the seller has considerable control over price because of the lack of competition. 2. A company or group having exclusive control over a product or service. (Oxford Dictionaries, 2015)

  • Monopsony

    A market in which there is only one buyer. (Schiller, 2000)

  • Morale

    An employee’s attitude toward their job, employer, and colleagues. (Ferrell & Hirt, 2002)

  • Motivation

    An inner drive that directs a person’s behavior toward goals and the accomplishment of those goals. (Ferrell & Hirt, 2002)

  • MOU


    See Also: Memorandum of Understanding (MOU)

  • Moving Average

    A continuous average method used to gather the most current usage information about an item by taking current trends into account and always using the most recent data.

  • MPC


    See Also: Marginal Propensity to Consume (MPC)

  • MPS


    See Also: Marginal Propensity to Save (MPS)

  • MRO


    See Also: Maintenance, Repair, Operating (MRO)

  • MRP


    See Also: Material/Materiel Requirements Planning (MRP) System